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You have been presented with the following production data and asked to fit statistical production functions: PLANT OUTPUT (TONS) CAPITAL ($) LABOUR (HOURS 605.3 18,891

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You have been presented with the following production data and asked to fit statistical production functions:

image text in transcribed
PLANT OUTPUT (TONS) CAPITAL ($) LABOUR (HOURS 605.3 18,891 700.2 566.1 19,201 651.8 647.1 20,655 822.9 523.7 15,082 650.3 712.3 20,300 859.0 487.5 16,079 613.0 761.6 24,194 851.3 442.5 11,504 655.4 821.1 25,970 900.6 10 397.8 10,127 550.4 11 896.7 25,622 842.2 12 359.3 12,477 540.5 13 979.1 24,002 949.4 14 331.7 8,042 575.7 15 1064.9 23,972 925.8

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